Tahoe Resources: Escobal project unaffected by proposed mining reform

theflyonthewall.com

Tahoe Resources reported that government-proposed mining law reforms in Guatemala should not affect its Escobal project. Media reports released this morning outlined a proposal from President Perez Molina's administration to allow state ownership in mining projects. Company communications with high-level officials in Guatemala's Ministry of Energy and Mines indicate that the government has no intention of acquiring an interest in the Escobal project or other mining projects in the country. According to CEO Kevin McArthur, "The government of Guatemala has not made any approach to the Company regarding this proposed reform, nor do we expect it to. Full permitting for the 100%-owned Escobal project is still anticipated in the second half of 2012."

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